Wondering why your mortgage broker is contacting you after you've settled on your property? The simple answer is that a mortgage broker will be with you for life.
You've landed your dream home with the help of your mortgage broker and just threw a big celebratory party. Congratulation!
Once the bottle is empty and you've settled into your new home, you'll notice that the mortgage broker is still in your life, and you may wonder why – after all, they gave you the loan and earn commissions.
Why do they still care about you?
They know it's a good idea to stay in touch every six to 12 months. After all, you should review your current loan every year, and your mortgage broker can tell you how you're progressing.
Building a long-term relationship with your mortgage broker is a good idea, as they will know the details of your situation and what you want for your future.
Your mortgage broker will also monitor your account, and with their in-depth industry knowledge, keep an eye on any new products or better interest rates in your favor. In addition to expecting a response from your mortgage broker every six to 12 months, you should contact them at some point. Indeed, if your life circumstances change, it could affect your mortgage.
For example, you may welcome a baby into your home, you may receive a higher salary, your income may be temporarily reduced, or you may decide to get married.
If not, you may want to refinance with a better deal or consolidate your debts. You may also want to use the equity you've accumulated in your home for a renovation, investment, or vacation, which your mortgage broker can help you with.
Even the most seasoned investors benefit from staying in touch with their broker who can help them maximize their profits later on. And if you're deciding to invest in real estate for the first time, your mortgage broker can help you research investment loan options to get you started.
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